Saudi cabinet stresses need to implement oil output cut

Saudi Arabia stressed on Monday the importance of co-operation among oil producers to abide by a decision in November to cut production.

OPEC agreed in November its first oil output cuts since 2008 after Saudi Arabia accepted “a big hit” on its production and dropped its demand that arch-rival Iran slash output.

“The council (of ministers)…asserted the importance of stability and coordination and increased cooperation between member states and commitment to implement the agreement to cut production reached last November,” the cabinet said in a statement carried by state news agency SPA.

They need to diversify their economy and their internal use of energy. It is time to end the wasteful subsidies for oil consumption in the country.

Seems like solar power would work really well in the DESERT for domestic consumption. As global temperatures continue to rise they will need a lot of electricity generation to keep those air conditioners running.